The global economy is still mired in slow growth a decade after the outbreak of financial crisis. The recovery is weak, teetering and fraught with uncertainties, particularly with challenges from anti-globalization and protectionism. Over the last two years, political storms with anti-globalization themes swept across almost all traditional core countries. This has been the case especially since Donald Trump took office. He continues to break down the existing governing frameworks, champion nativist and pragmatic“America First”policies, with a view to diminishing the role the US has been playing in global governance system. The US, as a global superpower and the leader in global governance, has a demonstration effect on other countries by way of its current modus operandi, which in turn will impact on the global economic system and even the governance landscape, and result in growing uncertainties in the international arena. The imbalance in global economic structure, geopolitical conflicts, climate change and ecological crisis, among others, call for a more comprehensive and effective global governance order and practice.

China’s rapid economic growth over the past decades benefited directly from economic globalization and a generally peaceful international environment. Leveraging opportunities offered by the Internet, China has already overtakenmany others in certain areas in economic development, but it is still in need of a series of deep structural reforms. Although its growth is slowing down, China is still one of the most important forces to drive global economy. The “Belt and Road”Initiative has achieved some success since it made its debut a few years ago. However, we are yet to see if it is capable of resolving the anti-globalization predicament and ushering in a new era of economic globalization. Confronted with the challenges in world economic growth and global governance conundrum, China should assume its responsibilities as a big power. On one hand, it has to harness the opportunities presented by the reshaping of the global value chain to enhance the competitiveness of its industrial structures. On the other, China should also contribute its wisdom, and offer its propositions on global governance and rules of the international order.

This year, the Sanya Forum will bring together the most influential political, business and academic leaders from China, the United States, Europe and the rest of Asia, as it seeks to harness political and economic energy through private think tanks, lead the direction of change using the resonance of ideas, and continue to make a positive and real impact on exploring global governance models, promoting international economic and technological exchanges and cooperation, and advancing the healthy development of the world economy.